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City and EDA of Ramsey Business Subsidy Policy 3 <br />3. Land Use <br />a. Compliance with Comprehensive or Other Plans. Whether, apart <br />from any needed services to the community described in section <br />5 below, the project is compatible with the comprehensive plan <br />and permitted uses for the property. <br />b. Marginal Property. Whether the project is located on property <br />which needs but is not likely to be developed or redeveloped <br />because of blight or other adverse conditions of the property. For <br />example property may be so blighted that the cost of making land <br />ready for redevelopment exceeds the property's fair market value. <br />c. Design and/or Other Amenities. Whether, as a result of the business <br />subsidy, the project will include design and/or amenity features not <br />otherwise required by law. For example, the project may, at the <br />request of the City, include landscaping, open space, public trails, <br />employee work out facilities or day care facilities which serve a <br />public purpose but are not required by law. <br />4. Impact on Existing and Future Public Investment <br />a. Utilization of Existing Infrastructure Investment. Whether and to <br />what extent (a) the project will utilize existing public infrastructure <br />capacity and (b) the project will require additional publicly funded <br />infrastructure investments. <br />b. Direct Monetary Return on Public Investment. Arrangements made <br />or to be made for the City to receive a direct monetary return on its <br />investment in the project. For example, the business subsidy may <br />be in the form of an interest bearing loan or may involve a project <br />sharing arrangement. <br />5. Economic Development <br />a. Leveraged Funds. For every dollar of business subsidy to be <br />provided for the project, the minimum amount of private funds <br />which will be applied towards the capital cost of the project. <br />b. Spin Off Development. The dollar amount of non -subsidized <br />development the project is expected to generate in the surrounding <br />area and the need for and likelihood of such spin off development. <br />The Economic Development Authority and City of Ramsey, Minnesota. Policies. <br />